Real Estate Market Update

Hot or Not?

For title companies, this quarter is matching the typical pace for this time of the year. As homes start to spend a longer amount of time on the market, sellers’ willingness to negotiate increases. With more room for compromise, buyers can take their time in choosing a home. .

Limited market activity also means it’s more important than ever for sellers to accurately price their homes. In September, 40% of sold properties had to reduce their asking price before receiving an offer.

Did You Know?

Real estate is still all about location, location, location!

Neighborhoods located within a half-mile of public transit outperformed those located farther away from public transit based on a number of factors, according to a report released by the American Public Transportation Association and the National Association of REALTORS®.

Buy Now or Later?

Lower prices, lower mortgage rates, lower inflation, and lower appreciation—the current market conditions have led to an all-time high for housing affordability.

This news comes on the heels of the Federal Reserve cutting mortgage rates for the third time, with the average 30-year fixed rate hovering around 3.8%. All of that to say, now’s looking like a great time to buy.

What’s Happening in Denver?

Want to fit in a jog before you dig into the mashed potatoes and stuffing? The 46th Annual Mile High United Way Turkey Trot is happening on Thanksgiving morning, bringing in over 10,000 people for a scenic, 4-mile run around Washington Park in Denver. The post-race party includes live music, local vendors, and a beer garden! For more details, visit the official event page here.